Frx 200 Form PDF Details

Navigating the complexities of the FRX 200 form, a critical document for corporations in Oklahoma, demands attention to its comprehensive requirements and deadlines. Revised in June 2014, this annual franchise tax return encompasses several key sections, including details about the taxpayer's identification, financial summary, and reporting periods, which are crucial for accurate tax computation and legal compliance. Corporations must accurately report their net assets within Oklahoma, alongside total net assets to calculate the capital employed in the state. This figure is fundamental in determining the franchise tax owed, affected by a corporation's total gross business and the value of assets and business conducted both within and outside of Oklahoma. Additionally, the form addresses liabilities, stockholder’s equity, and specifics regarding issued capital stock. For corporations with a broader operational scope, identifying subsidiaries, affiliates, and detailing current debt and assets becomes necessary to paint a complete financial picture. Complying with the tax filing also involves submitting officer information, enhancing transparency and accountability. The Oklahoma Tax Commission requires accurate record-keeping and adherence to due dates to avoid penalties or interest, with specific instructions for franchises operating across state lines or seeking adjustments to their filing period. This form not only serves as a financial declaration but also as a compliance mechanism, ensuring businesses contribute rightfully to state revenues while fostering a regulated corporate environment.

QuestionAnswer
Form NameFrx 200 Form
Form Length6 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min 30 sec
Other namesform frx 200, frx200, payables, ITIN

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FRX 200

Revised 6-2014

Oklahoma Annual Franchise Tax Return

A. Taxpayer FEIN

 

 

 

 

B. Account Number

 

 

 

C. Reporting Period Beginning (MM/DD/YY)

Reporting Period Ending (MM/DD/YY)

 

 

 

 

 

 

D. Due Date (MM/DD/YY)

 

-Office Use Only-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

G. Amended

 

 

 

 

 

 

State of Incorp

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Return

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-Office Use Only-

 

 

 

 

 

 

 

 

H. Estimated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

E.Okla F.Other

 

 

 

 

 

 

 

 

 

 

Return

 

 

 

 

 

 

 

 

 

 

 

Name

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Address

 

 

 

 

 

 

 

 

 

City, State or Province, Country and Postal Code

I. Mailing Address Change

I. New Mailing Address

City, State or Province, Country and Postal Code

J. Balance Sheet Date (MM/DD/YY)

1.

Total Net Assets in Oklahoma (Balance Sheet: Line 15, Column B)

1

2.

Total Net Assets (Balance Sheet: Line 15, Column A)

 

 

 

If all assets are in Oklahoma, enter “0”

2

3.

Total Current Liabilities (Balance Sheet: Line 23)

 

 

 

If line 2 is zero, complete line 4. If line 2 is not zero, complete lines 5-11

3

4.

Capital Employed in Oklahoma (line 1 minus line 3)

 

 

 

Round to next highest $1000. If line 4 is completed, skip to line 12

4

5.

Total Gross Business Done by Corporation in Oklahoma (Balance Sheet: Line 34)

5

6.

Total Value of Assets and Business Done in Oklahoma (Total of lines 1 and 5)

6

7.

Total Gross Business Done by Corporation (Balance Sheet: Line 33)

7

8.

Total Value of Assets and Business Done (Total of lines 2 and 7)

8

9.

Percentage of Oklahoma Assets (See instructions)

 

 

 

Check appropriate Box:

Option1

Option 2

9

10. Value of Capital Subject to Apportionment (Line 2 minus line 3)

10

11. Capital Apportioned to Oklahoma (Line 10 multiplied by line 9)

 

 

Round to the next highest $1000

.....................................................................................

11

12.

Tax (See instructions)

 

12 =

13.

Registered Agents Fee ($100.00 - See instructions)

13 +

14.

Interest

 

14 +

15.

Penalty

 

15 +

16.

Reinstatement Fee ($15.00 - See instructions)

16 +

17.

Previous Estimated Payment

 

17 -

18.

Total Due (Cannot be less than zero)

18 =

Dollars

Dollars

Cents

00

00

00

00

00

00

00

00

%

00

00

Cents

00

00

Signature: _______________________________________ Date: ___________________

The information contained in this return and any attachments is true and correct to the best of my knowledge.

FRX 200

Page 2

Oklahoma Annual Franchise Tax Return

Schedule A: Current Officer Information

Taxpayer Name

FEIN

Account Number

Corporate Officers Effective as of _________________ Are as Follows:

(Date)

Example: Reporting period 07/01/2014 – 06/30/2015—Schedule A date = 06/30/2014

Schedule A: Current Oficer Information

Enter the current oficers effective date. The oficers listed below should be those whose term was in effect as of 06/30/2014. Be sure to include names, addresses, and Social Security Numbers. A letter will be sent to all oficers listed advising them they have been identiied as an oficer of the iling corporation. Oficers listed in error will be advised to contact the corporation, not the Oklahoma Tax Commission to resolve. Corporations may go online at www.tax.ok.gov to update or correct oficers yearly.

1. Name (First, MI, Last)

Social Security Number

 

 

Home Address (street and number)

Daytime Phone (area code and number)

 

 

City, State or Province, Country and Postal Code

Title

 

 

2. Name (First, MI, Last)

Social Security Number

 

 

Home Address (street and number)

Daytime Phone (area code and number)

 

 

City, State or Province, Country and Postal Code

Title

 

 

3. Name (First, MI, Last)

Social Security Number

 

 

Home Address (street and number)

Daytime Phone (area code and number)

 

 

City, State or Province, Country and Postal Code

Title

 

 

4. Name (First, MI, Last)

Social Security Number

 

 

Home Address (street and number)

Daytime Phone (area code and number)

 

 

City, State or Province, Country and Postal Code

Title

 

 

Please include Social Security Numbers of oficers.

• If oficer is not a U.S. citizen and does not have a SSN, an ITIN issued by the IRS must be supplied. 710:1-3-6. Use of Federal Employer Identiication Numbers, Social Security Numbers mandatory

All returns, applications, and forms required to be iled with the Oklahoma Tax Commission (Commission) in the administration of this State’s tax laws shall bear the Federal Employer’s Identiication Number(s), the Social Security Account Number or ITIN of the person, irm, or corporation iling the item and of all persons required by law or agency rule to be named or listed. If more than one num- ber has been issued to the person, irm, or corporation, then all numbers will be required.

[Source: Amended at 16 Ok Reg 2628, eff 6-25-99]

710:1-3-8. Conidentiality of records

All Federal Employer’s Identiication and/or Social Security Account Numbers are deemed to be included in the conidential records of

the Commission.

FRX

200

Oklahoma Annual Franchise Tax Return

Page 3

Schedules B, C and D

 

 

 

 

 

Taxpayer Name

 

FEIN

 

 

 

 

This page contains Schedules B, C, and D for the completion of Form 200: Oklahoma Annual Franchise Tax Return. Attach additional pages if further space is needed on Schedules C and D.

Schedule B

General Information (to be completed in detail)

If the business is not a “corporation,” list the type of business structure, the date of formation, and county in which iled.

Name and address of Oklahoma “registered agent”

Name of parent company if applicable:

 

 

 

 

 

 

FEIN:

 

Percent of outstanding stock owned by the parent company, if applicable:

 

 

 

%

 

 

 

In detail, please list the nature of business:

 

 

 

 

 

 

 

• Amount of authorized capital stock or shares:

 

 

 

 

 

 

(a) Common:

 

shares, par/book value of each share

$

 

$

 

 

(b) First Preferred:

 

shares, par/book value of each share

$

 

$

 

 

• Total capital stock or shares issued and outstanding at the end of iscal year:

 

 

 

 

 

 

(a) Common:

 

shares, par/book value of each share

$

 

$

 

 

(b) First Preferred:

shares, par/book value of each share

$

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule C

Related Companies: Subsidiaries and Affiliates

•subsidiaries (Companies in which you own 15 percent or more of the outstanding stock)

Name of Subsidiary

 

FEIN

 

Percentage Owned (%)

 

Financial Investment ($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

•affiliates (Companies related other than by direct stock ownership)

Name of Afiliate

 

FEIN

 

How related?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule D

 

 

 

 

 

 

 

 

Details of Current Debt shown on Balance Sheet

Balance remaining of

 

 

 

 

 

 

Original Amount

amounts payable within 3

Name of Lender

Original Date of Issuance Maturity Date

 

of Instrument

years of Date of Issuance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FRX

200

Oklahoma Annual Franchise Tax Return

Page 4

Balance Sheet

 

 

 

 

 

 

 

 

Taxpayer Name

 

FEIN

As of the Last Income Tax Year Ended: (MM/DD/YY)

 

 

 

 

 

This page contains the Balance Sheet which completes Form 200: Oklahoma Annual Franchise Tax Return.

Assets

1.Cash .......................................

2.Notes and accounts receivable

3.Inventories..............................

4.Government obligations and other bonds............................

5.Other current assets

(please attach schedule) ........

6.Total Current Assets

(add lines 1A-5A and 1B-5B).

7.Mortgage and real estate loans

8.Other investments

(please attach schedule) ........

9.(a) Building .............................

(b)Less accumulated depreciation........................

10.(a) Fixed depreciable assets .

(b)Less accumulated depreciation.......................

11.(a) Depletable assets.............

(b)Less accumulated depletion............................

12.Land......................................

13.(a) Intangible assets .............

(b)Less accumulated amortization......................

14.Other assets .........................

15.Net Assets ...........................

(Lines: 6-14)

16.Inter-company receivables:

(a)From parent company.....

(b)From subsidiary company

(c)From afiliated company .

17.Bank holding company stock in subsidiary bank .......

18.TOTAL ASSETS...................

(Lines: 15-17)

Column A

Total Everywhere as per

Books of Account.

If all Property is in

Oklahoma,

Do Not Use this Column.

Column B

Total in Oklahoma

as per Books

of Account.

Liabilities and

Stockholders’

Equity

19.Accounts payable ....................

20.Accrued payables ....................

21.Indebtedness payable three years or less after issuance

(see schedule D) .....................

22.Other current liabilities.............

23.Total Current Liabilities.........

(Lines: 19-22)

24.Inter-company payables

(a)To parent company.............

(b)To subsidiary company.......

(c)To afiliated company..........

25.Indebtedness maturing and payable in more than three years from the date of issu- ance.........................................

26.Loans from stockholders not payable within three years.......

27.Other liabilities.........................

28.Capital Stock

(a)Preferred stock....................

(b)Common Stock....................

29.Paid-in or capital surplus (attach reconciliation) ...............

30.Retained earnings ...................

31.Other capital accounts.............

32.Total Liabilities and

Stockholders’ Equity.............

(Lines: 23-31)

33.Total gross business done everywhere

(sales and service) ................

(from income tax return)

34.Total gross business

done in Oklahoma

(sales and service) ................

(from income tax return)

Column C

Total Everywhere as per

Books of Account.

Form 200 - Page 5

Oklahoma Annual Franchise Tax Return Information

• Requirement for Filing Return

Every corporation organized under the laws of this state, or qualiied to do or doing business in Oklahoma in a corporate or organized

capacity by virtue or creation of organization under the laws of this state or any other state, territory, district, or a foreign country, including

associations, joint stock companies and business trusts as deined by Oklahoma statutes unless exempt by statutes must ile an Annual Franchise Tax Return Form 200.

The term “doing business” means and includes every act, power, or privilege exercised or enjoyed in this state as an incident to do or by virtue of powers and privileges acquired by the nature of all organizations falling within the purview of the Franchise Tax Code.

All Foreign (non-Oklahoma) Corporations including non-proits, must pay an Annual Registered Agent Fee of $100.00. Indicate this amount on Line 13 of the Form 200.

The maximum annual franchise tax is $20,000.00.

Beginning January 1, 2014 if your capital was $200,000.00 or less, the tax is zero.

Applications for refunds must include copies of related Oklahoma Income Tax Returns. The use of the correct corporate name and FEIN on your return and all correspondence will facilitate in timely processing and handling.

• Time for Filing and Payment Information

Effective January 1, 2014 for all corporations:

Oklahoma Franchise Tax is due and payable July 1st of each year unless a Request to Change Franchise Tax Filing Period (Form 200-F) has been iled. The report and tax will be delinquent if not paid on or before September 15. A ten percent (10%) penalty and one and one-fourth percent (1.25%) interest per month is due on payments made after the due date.

If the Charter or other instrument is suspended, a fee of $15.00 is required for reinstatement. (Line 16 of Form 200.)

If you wish to make an election to change your iling frequency, complete OTC Form 200-F: Request to Change Franchise Tax Filing Period.

You may ile this form online or download it at www.tax.ok.gov. Form 200-F must be iled no later than July 1.

• Franchise Tax Computation

The basis for computing Oklahoma Franchise Tax is the balance sheet as shown by your books of account at the close of the last preceding

income tax accounting year, or electing to change iling to match the due date of the corporate income tax, the balance sheet for that corporate tax year.

The franchise tax for corporations doing business both within and outside of Oklahoma, is computed on the proportion to which property owned, or property owned and business done, within Oklahoma, bears to total property owned, or total property owned and total business done everywhere.

“Property owned” is the book value of the assets. For the purpose of determining apportionment as between Oklahoma and elsewhere, liabilities are not to be deducted from gross assets.

The term “business done” means and includes the engaging in any activity or the performing of any act or acts in this state that constitutes the doing or transacting of business. Business done in Oklahoma includes sales shipped from Oklahoma to another state in which the corporation is not doing business.

Inter-company Payable and Receivables between parent, subsidiary and/or afiliates, are to be eliminated from the calculations necessary to determine the amount of franchise tax due.

Oklahoma franchise (excise) tax is levied and assessed at the rate of $1.25 per $1,000.00 or fraction thereof on the amount of capital allocated or employed in Oklahoma.

• Online Filing

Oklahoma Taxpayer Access Point (OkTAP) makes it easy to ile and pay. Visit us at www.tax.ok.gov to ile your Franchise Tax Return, Oficer Listings, Balance Sheets and Request to Change Filing Status.

Form 200 - Page 6

First Step...

Complete Balance Sheet and Schedules B, C & D

(Must be returned with annual return)

Line 1 (through 3) Cash, notes, accounts receivable, and inventories are to be reported at book value.

Line 4 United States, municipal, commercial and other bonds owned by the corporation.

Line 5 Prepaid expenses and deferred charges are to be included as assets at book value.

Line 8 Stock or other evidence of ownership in subsidiary organiza- tions as shown on the corporations books of account.

Lines 9b, 10b, 11b. If accumulated depreciation and depletion appear to be excessive, the excess may be disallowed.

Line 13 Patents, trademarks, copyrights, etc., and franchises are to

be included as assets to the extent of their cost. In the case of a deinite term franchise, the cost thereof may be amortized over its life. Goodwill is an asset and should be shown at book

value. All intangibles including cash, are to be apportioned wholly to Oklahoma unless a commercial or business location for the intangibles has been established elsewhere.

Line 14 Life insurance, where the reporting taxpayer is beneiciary, is to be shown at cash surrender value.

Line 15 Total net amount of lines 6 through 14. Line 18 Total lines 15,16, and 17.

Line 20 Reserves for taxes are allowed to the extent such taxes are unpaid. Deferred credits are included in capital employed un- less they can be shown to be actual liabilities.

Line 21 Current liability includes indebtedness payable in three (3) years or less after issuance.

Line 26 Stockholder loans must be repaid within three years of cre- ation to be considered a current liability. Contingent assets or liabilities should not be included unless fully explained and the condition under which they become actual is clearly set forth.

Line 32 Total lines 23 through 31. The amounts as shown by the books of account shall be the measure of value of the assets

and liabilities, except when the items on the books of account are in error or lack suficient detail to truly relect the amount

of capital invested and employed in the business.

Second Step...

Complete the Oklahoma Annual Franchise Tax Return

Item A Place the taxpayer FEIN in Block A.

Item B Place the account number in Block B.

Item C • Place the beginning and ending reporting period (MM/DD/

YY)for the Franchise Tax license year for which you are re- porting in Block C. Example: For returns due July 1, 2014 the reporting period beginning would be 07/01/14. The reporting

period ending would be 06/30/15.

•The reporting period for corporations which have iled Form 200-F, and elected a different iling date, will be the next iscal year. Example: A corporation has a year end of 05/31/14 with a return due August 15, 2014. The reporting period begin- ning will be 06/01/14 and the reporting period ending will be 05/31/15.

Item D Place the due date (MM/DD/YY) in Block D.

Item E Place an “X” in the box if you are incorporated in the State of Oklahoma.

Item F Place an “X” in the box if you are incorporated in a state other than Oklahoma.

Item G Place an “X” in the box if you are iling an amended return. Item H Place an “X” in the box if you have not completed a year end

balance sheet and are therefore iling an estimated return. You must ile an estimated return and remit tax due.

Item I Place an “X” in the box if your mailing address has changed. Write your new address in the space provided in Item I.

Item J Enter your balance sheet date (MM/DD/YY) of your most recent income tax accounting year.

(Continued top of right column)

(Continued from lower left column)

Lines 1 through 11 (except 9) are derived from your balance sheet. Please put the date of the balance sheet in box J.

Line 9 (Percent of Oklahoma Assets)

Select which option you will use to determine the apportion- ment of Oklahoma assets.

Option 1: Percent of Oklahoma assets and business done to total assets and business done. (line 6 divided by line 8). Round to six decimal points.

Option 2: Percent of Oklahoma assets to total net assets (line 1 divided by line 2). Round to six decimal points.

Line 12 (Tax)

Compute tax at $1.25 per $1,000.00 of capital. (Either line 4 or line 11) If tax is more than $20,000.00 enter $20,000.00 on line 12. If your return is due July 1, 2014 or later, you are

exempt from paying tax if your tax liability is $250.00 or less, however, a return must still be iled.

Line 13 (Registered Agent Fee)

If the corporation originated in a state other than Oklahoma, the Oklahoma Secretary of State charges an annual regis-

tered agent fee of $100.00 and is collected on the franchise tax return. Non-proit corporations originating in another state will be billed for the registered agents fee.

Line 14 (Interest)

If this return is postmarked after the due date the tax is sub- ject to 1.25% interest per month from the due date until it is paid. Multiply the amount in Line 12 by .0125 for each month the report is late.

Line 15 (Penalty)

If this return is postmarked after the due date the tax is sub- ject to a penalty of 10%. Multiply the amount in Line 12 by .10 to determine the penalty.

Line 16 (Reinstatement Fee)

If your corporate charter has been suspended, you must meet all outstanding iling and payment obligations in order to be reinstated. A $15.00 reinstatement fee is also required. Only

one reinstatement fee is required even if multiple past due returns are being iled.

Line 17 (Previous Estimated Franchise Payment) Line 18 (Total Due)

Add the amounts from lines 12 through 16, subtract any entry on line 17, and enter total on line 18. Amount on line 18 can- not be less than zero.

Third Step...

Schedule A Oficer Information

Enter the effective date of oficers. Please refer to the example on Schedule A. Failure to provide this information could result in the corpo- ration being suspended.

Fourth Step...

Mail this return to the address below. Please include your return, pay- ment made payable to Oklahoma Tax Commission, balance sheet, and schedules A, B, C, and D.

Please Mail To:

Oklahoma Tax Commission

Franchise Tax

Post Ofice Box 26920

Oklahoma City, OK 73126-0920

Phone Number for Assistance – (405) 521-3160

Mandatory inclusion of Social Security and/or Federal Employer’s Identi- ication numbers is required on forms iled with the Oklahoma Tax Com- mission pursuant to Title 68 of the Oklahoma Statutes and regulations thereunder, for identiication purposes, and are deemed to be part of the conidential iles and records of the Oklahoma Tax Commission.

The Oklahoma Tax Commission is not required to give actual notice to taxpayers of changes in state laws.

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2. Once this section is complete, it is time to put in the needed details in Capital Employed in Oklahoma line, Round to next highest If line is, Total Gross Business Done by, Total Value of Assets and, Total Gross Business Done by, Total Value of Assets and, Percentage of Oklahoma Assets See, Check appropriate Box, Option, Option, Value of Capital Subject to, Capital Apportioned to Oklahoma, Round to the next highest, Tax See instructions, and Registered Agents Fee See so you're able to move forward further.

ok 200 extension conclusion process described (step 2)

3. This next segment will be about Taxpayer Name, FEIN, Account Number, Corporate Officers Effective as of, Example Reporting period, Date, Schedule A Current Oficer, Name First MI Last, Home Address street and number, City State or Province Country and, Name First MI Last, Social Security Number, Daytime Phone area code and number, Title, and Social Security Number - type in these blank fields.

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